The merger between the WWE and UFC is now official.
Endeavor, the parent company to UFC, and the wrestling powerhouse have created a new company called TKO Group.
The company began trading on the New York Stock Exchange on Tuesday morning under the ticker symbol “TKO.”
Endeavor holds 51% of controlling interest in TKO, while WWE shareholders hold 49% interest.
The marriage of the two companies means it will reach more than a billion fans worldwide in 180 countries and produce more than 350 annual live events.
“The creation of TKO marks an exciting new chapter for UFC and WWE as leaders in global sports and entertainment,” said Ari Emanuel, CEO of Endeavor and TKO. “Given their continued connectivity to the Endeavor network, we are confident in our ability to accelerate their respective growth and unlock long-term sustainable value for shareholders. With UFC and WWE under one roof, we will provide unrivaled experiences for more than a billion passionate fans worldwide.”
WWE fans will note that this will be the first time that the McMahon family won’t hold a majority stake in the brand, which they have done for decades.
Variety reports that McMahon will own 16.4% of the economic interests of TKO. Back in 2022, he stepped down as the WWE’s CEO amid misconduct allegations. He then announced his retirement a month later. He then returned earlier this year as executive chairman.
“This is the culmination of a decades-long partnership between Endeavor and WWE across strategic initiatives including talent representation and media rights. Given our collaborative, trusted relationship and Endeavor’s incredible track record of success growing UFC, we believe WWE is optimally positioned for future growth and success as part of TKO,” McMahon said on the merger. “Our focus remains on delivering for our fans across the globe as we take the business to the next level alongside UFC and Endeavor.”
As for the roles in the company, Dana White is now CEO of UFC, and Nick Khan will continue his role as president of the WWE.
Vince McMahon is now executive chairman of the Board of Directors, which consists of 11 members.